Ford's quarterly US sales dip after phasing out some models

Oct 2 (Reuters) - Ford ‌said on ​Friday ​its third-quarter sales fell 6.6%, as the Detroit automaker phased out its Escape and Lincoln ‌Corsair crossover models.

Sky-high gasoline prices after the U.S.-Iran ⁠war and higher costs for everything from groceries to insurance ‌have nudged some buyers ‌away from thirsty engines to hybrid vehicles.

Regular gasoline prices have hit a national average of $4.43 a gallon ​in September, according to industry group AAA, compared with $3.20 a gallon year earlier.

"We are definitely seeing ⁠more demand on the hybrid powertrain, including on the F-150," Ford executives ​told Reuters on Friday.

Ford's sales decline is on par with its Detroit peers who ​are fending off stiff competition ‌from Asian automakers such as Toyota and Honda with hybrid-heavy lineups.

Quarterly sales of Ford's ⁠trucks, which includes its flagship F-series models, rose 0.5% from a year ago to 315,112 units.

Although auto loan rates ⁠have declined, affordability remains a challenge as higher vehicle prices ​and lower trade-in values push monthly payments higher.

The average new-vehicle transaction price rose 1.9% to $50,089 in August, according to industry expert ‌Cox Automotive.

Sales of Ford's affordable Maverick pickup truck, which is offered with a ‌hybrid powertrain, rose a little over 20% to 41,970 ⁠units.

Ford's overall third quarter ‌sales fell 6.6% ​to 509,764 units from a year earlier.

(Reporting by Nathan Gomes in Bengaluru; Editing by Sahal ‌Muhammed)

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